MADRID, SPAIN--(Marketwire - November 16, 2007) - On 18 December a General
Shareholders' Meeting will take place to deliberate on the removal
of restrictive clauses, with an attendance premium of gross EUR
0.10 per share

At a meeting held today, Altadis' Board of Directors has
unanimously approved the report on the takeover bid for the
acquisition of the company's shares presented by Imperial Tobacco
and authorised by the Spanish National Securities Market
Commission ("Comisión Nacional del Mercado de Valores" - "CNMV").

In the report, issued in accordance with stipulations in article
24 of Royal Decree 1066/2007 of 27 July, "The Board of Directors
of Altadis, in view of the financial advice received from Credit
Suisse, JPMorgan, Merrill Lynch and Rothschild, unanimously
considers that the price offered by Imperial Tobacco of 50 euros
per share is fair from a financial point of view."

As a result, taking into account the general considerations
expressed in its report, "the Board of Directors of Altadis
unanimously considers the Offer to be attractive and, in the
current circumstances, recommends the Offer to its shareholders".

Thus, the report, which was approved today, confirms the position
made public by the Board of Directors in the relevant fact issued
on 18 July, 2007.

The Board of Directors has also decided to call a Shareholders'
Meeting on 18 December, at the second call, to decide on the
amendment of article 24 of the Bylaws with respect to the removal
of the limitation to the number of votes that each shareholder of
Altadis may cast at a Shareholders' Meeting. The Board of
Directors of Altadis recommends to its shareholders to vote in
favour of the proposed modification.

In this way and with the goal of encouraging attendance due to the
importance of the topics to be discussed, an attendance premium of
gross EUR 0.10 per share will be paid.